Storage Co. Seeks Coverage For $2M Contract Padding Plot

Law360, New York (March 6, 2013, 10:13 PM EST) -- Frazier Industrial Co., manufacturer of structural steel storage systems, has sued Navigators Insurance Co. in New Jersey for allegedly breaching its obligations by failing to provide coverage for a contract padding scheme that cost the company more than $1.9 million.

In a complaint filed in Morris County Superior Court, Long Valley, N.J.-headquartered Frazier contends that its damages from the theft — in which a contractor allegedly worked with a Frazier employee to rip off the company for years — should be covered under commercial crime insurance...